Out of 38 states, only Mississippi saw a loss
The US commercial gaming industry reported record-breaking revenue of more than $78bn in 2025, driven by growth across the traditional land-based casino, sports betting and internet gaming markets.
State of the States 2026 is the American Gaming Association‘s definitive annual look at the commercial gaming industry, covering financial performance, state-by-state analysis, regulatory developments, and the policy battles shaping the industry’s future.
Overall, all but one of the 38 US jurisdictions with commercial casino or sports betting operations reported an increase in gaming revenue, with total revenue in Mississippi down only a small fraction of a per cent compared to 2024. Record annual commercial gaming revenue was reported by 34 states plus the District of Columbia in 2025.
The record gaming revenue reported by commercial gaming operators resulted in a record total of $17.86bn in direct gaming tax revenue paid to state and local governments and other beneficiaries. The tax total represented an increase of 12.3 per cent from the prior year.
Notably, the $17.86bn figure reflects only specific state and local taxes that are applied directly to gaming activities. It does not include the billions more paid by the industry in the form of income, sales, and various other corporate taxes, nor does the total reflect payroll taxes paid by gaming operators and suppliers. Also excluded are federal excise tax payments made by sports betting operations.
The Las Vegas Strip remained by far the largest commercial casino gaming market in the country in 2025, despite casino-resorts on the Strip reporting near flat gaming revenue growth. The opening of new casinos in Illinois meant the Chicagoland and St. Louis casino markets enjoyed strong growth in 2025 while the Baltimore-Washington D.C., Philadelphia, Detroit and Boston markets were among those that reported declining land-based casino gaming revenue.
Outside of Nevada and Mississippi, which don’t report property level numbers, Resorts World New York City remained the nation’s highest grossing commercial casino facility in 2025. The casino, located in Queens, is currently limited to electronic gaming devices but received a license in December to add table games and a sportsbook as part of a broader redevelopment plan. In terms of 2025 gaming revenue, Resorts World was followed by MGM National Harbor in Maryland, Borgata Hotel Casino & Spa in Atlantic City, Encore Boston Harbor in Massachusetts, and Live! Casino & Hotel Maryland near Baltimore.
In 2025, America’s 493 commercial casino locations across 27 states reported record annual revenue of $51.06bn from their traditional casino games. The total revenue from electronic gaming devices and table games was up 2.3 per cent compared to the previous year.
In 2025, total revenue from commercial sports betting operations across the United States was $16.89bn, an increase of 22.6 per cent compared to the previous year. Notably, the sports betting total does not include revenue earned by sportsbooks in tribal casinos or from mobile sports betting in Florida, which is also conducted as a form of tribal gaming.
Internet gaming revenue across the seven states with lawful online casinos exceeded $10 billion in 2025, as overall iGaming revenue grew by 27.6 percent to a record total of $10.73 billion. Although the iGaming markets of Delaware, Rhode Island and West Virginia reported the strongest growth, Michigan, New Jersey and Pennsylvania continued to account for nearly 90 percent of the nationwide total.
Pennsylvania remained the largest market, with statewide revenue increasing by nearly 28 per cent to $3.46bn. Annual iGaming revenue surpassed that of commercial land-based casinos in both Pennsylvania and New Jersey for the first time in 2025. Maine was the only state to pass legislation legalizing iGaming in 2025, though the legislation did not become law until early in 2026.
Perhaps the most pressing gaming policy concern of state regulators and law enforcement officials in 2025 was the growing prominence of unregulated and illegal gaming operations.
During the course of the year, state and tribal governments in 16 states took action against prediction market platforms offering contracts based on the outcome of sporting events. Those actions included cease and desist orders, directly suing prediction market operators in court, and publishing guidance or formal opinions declaring sports event contracts to be a form of unauthorized sports wagering subject to state licensure and oversight.
Five states—California, Connecticut, Montana, New Jersey and New York—passed new legislation in 2025 to explicitly prohibit sweepstakes gaming platforms that mimic online casinos or sportsbooks. Arizona and Louisiana were among a number of other states that took enforcement measures against sweepstakes based on pre-existing laws.
Meanwhile, gaming regulators in states such as Florida, Michigan, Mississippi and Tennessee continued to take action against illegal offshore sportsbooks and casinos, as policymakers and courts in Missouri, Pennsylvania and Virginia also addressed the issue of unregulated devices offering unlicensed gaming under the guise of “skill games.”
In August, the AGA released new analysis showing that unregulated gaming devices, offshore sportsbooks and illegal online casinos generate an estimated $53.9bn in revenue annually, depriving states of more than $15bn in lost tax revenue. That total does not include the many hundreds of millions in sports wagering tax revenue being lost due to sports event contracts offered through prediction markets.
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Out of 38 states, only Mississippi saw a loss The US commercial gaming industry reported record-breaking revenue of more than $78bn in 2025, driven by growth across the traditional land-based casino, sports betting and internet gaming markets. State of the States 2026 is the American Gaming Association‘s definitive annual look at the commercial gaming industry,…
The post AGA’s State of the States shows US commercial gaming generated record-breaking revenue of more than $78bn in 2025 appeared first on G3 Newswire.